Withdrawal of Bid for Tottenham Hotspur
A bid for Tottenham Hotspur by an American tech consortium, spearheaded by Brooklyn Earick, has officially been withdrawn. Initially, the group had signaled its intention to make an impressive £4.5 billion offer for the Premier League club; however, on September 26, this proposal was clearly declined by ENIC, the club’s majority owner, managed by the Lewis family Trust.
Official Statements and Reactions
In a recent update shared through the London Stock Exchange, it was confirmed that Earick’s consortium will not proceed with the bid, which was met with approval from the Lewis family Trust, emphasizing their long-standing dedication to the club’s future. The development comes alongside the news that another potential buyer, Firehawk Holdings Limited, based in Asia, has abandoned their own bid as well.
The official statement from Tottenham Hotspur Limited acknowledged the announcements from both Firehawk and Earick’s group, thanking them for their constructive dialogue during discussions. The board reiterated the Lewis family’s position, stating definitively that the club is not for sale.
Following these announcements, Spurs has officially exited the offer period as dictated by the City Code on Takeovers and Mergers.
Previous Interest and Current Ownership
Earlier in September, Spurs had received similar expressions of interest from various investors. Notably, one proposal came from Dr. Roger Kennedy and Wing-Fai Ng through Firehawk, which was also turned down decisively by ENIC. The situation became more complicated when Amanda Staveley’s PCP International Finance quickly issued a statement on September 8, confirming its decision not to bid for the club. With Firehawk’s confirmation on October 3 that they would not pursue an offer, Earick’s consortium was initially left as the last visibly interested party before their withdrawal.
Currently, ENIC, which is controlled by the Lewis family Trust, holds nearly 87% of the shares in Tottenham. As a publicly traded entity, any interest or bid must adhere to the UK Takeover Code procedures, requiring transparency with the Takeover Code Panel. This recent surge in interest followed Daniel Levy stepping down after a 24-year tenure as chairman on September 4, though the family has made it abundantly clear that they are not actively seeking to sell the club, with a source close to the family describing any unsolicited proposals as not influencing their commitment to Spurs’ success.
